Buffett’s Berkshire Builds Position In Barrick Gold, Says Goodbye To US Banks

Billionaire Warren Buffett’s investment conglomerate Berkshire Hathaway built up a new position in Toronto-based miner Barrick Gold and continued to divest shares in a number of large US banks during the second quarter.According to a SEC filing released late on Friday, Berkshire (BRK.A) bought 20.9 million shares in Barrick Gold worth about $563.6 million. Following the disclosure, the stock surged 8.1% to $29.18 in after-market trading.Barrick shares (GOLD) have been on a steady gaining streak since mid-March appreciating some 45% this year, as surging gold prices have driven stock prices of gold miners to multi-year highs. This comes as the …read more

Source:: Yahoo Finance

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